Naresh (SEWAK) 19 September 2015
Kumar Doab (FIN) 19 September 2015
You are from which side: Employer or Employee?
Payment of Gratuity Act states that employer can provide for better terms of Gratuity.
There is no wage ceiling.
The calculation of Gratuity is:
{( Basic+DA)/26*15*No of years of service}
Here Basic+DA is as per last drawn salary.
For the years the Gratuity was promised as per 30days salary the calculation may be:
{( Basic+DA)/26*30*No of years of service}………………….. Basic+DA is as per last drawn salary
For rest of the years it may be:
{( Basic+DA)/26*15*No of years of service}……………. Basic+DA is as per last drawn salary.
It is generic rule that benefits once given can not be withdrawn.
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